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How to reconcile VRPlatform Owner Statement totals (Payouts) to QBO
How to reconcile VRPlatform Owner Statement totals (Payouts) to QBO

Month-end accounting tasks

Updated over a week ago

After you have prepared, reviewed, and published your owner statements in VRPlatform, you must reconcile the payout amounts in VRPlatform to your Quickbooks owner payout distributions amounts in the balance sheet for the month. This ensures that the owner statements that you have published and billed in VRPlatform have created a bill in QBO for the distribution of income to your owners. This owner statement bill for the monthly income distribution to your owners should reduce the total owner payable amount in your balance sheet for the month for each property to a zero balance.

To reconcile the VRPlatform Owner Statement payouts to QBO, perform the following steps:

  1. Navigate to the Statements page in VRPlatform and review the total of your owner payout column.

  2. Login to Quickbooks, and run your balance sheet for the month under review.

  3. Scroll to the account "Owner Distributions (Payouts) and drill down into that amount.

  4. View the total amount for the month (not the total balance) and compare to your total payout amount in VRPlatform. These amounts should be equal.

  5. If the two amounts tie out, all of your owner statement bills for owner payouts for the month have been captured in QBO for statements that you have put into "Publish & Billed" status. If you selected "Publish" as the status, a bill will NOT be generated in QBO.

  6. If you are missing an owner statement bill, ensure that the owner statement bill configurations are complete, and that a vendor has been assigned to the listing. Once configurations have been amended or completed, put the statement back into draft status, regenerate your owner statement, and "Publish & Post" the statement.

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